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20130113
20130121
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Search Results 0 to 25 of about 26 (some duplicates have been removed)
being eased up, a very good environment for lending, very solid for housing. i can see a lot more reasons to be positive than negative right now. >> if interest rates went up 100 basis points, you think housing would do as well? >> you think they will go up 100 basis points. >> my point is housing better do good at historically manipulated low rates. i don't see that it's bragging rights here. >> right, right. the minute interest rates going up, where is the blockbuster in housing building taking place, in the midwest or takingce in new york city, new york, the tri-metro area, boston, chicago, where is it taking place because housing in and around the new york metro area is not going off to the races? >> well, you're going to see it across the country. that seems to be what the surveys are showing. now, the latest survey of the national association of home builders suggested things were a little bit flat, but you're going to get rebuilding after hurricane sandy in the northeast, and there are bidding wars in places like phoenix and parts of florida that used to be soaking in exces
. >> all right. how do you want to allocate capital then, bruce? how are you investing in this environment? >> we think it's important not to be taking too little risk, so certainly making sure that you have adequate exposure, especially to things like the emerging markets where the fundamentals of growth are a lot better than they are in the united states is clearly important, but most of all making sure that you're taking in risk in line with what you can afford to take and not taking too much and not too little but really controlling it throughout the year. >> steve. is it possible that the beige report that we get today is sort of ancient history because things are becoming clearer now as far as the fiscal policy of the united states. we still have the debt crisis coming in a couple of months here to be resolved, but, you know, things do seem to be getting better. we've had some companies say that the housing market is for real right now, for example. >> yeah. i guess there's two different ways to think about it, bill. ancient history or crystal ball telling our future. i mean, when i
environment and certainly the lack of big deals even though dell had an announcement a few days ago that organic growth - actually making money instead of kind of manufacturing money, so to speak - may be difficult here, given the fact that certainly goldman sachs is near a 52-week high and j.p. morgan not too far away. and the fact that they are employing a lot of leverage to hit their numbers gives me, as a trader, a lot of pause for concern here. > so what would be your trade here, or would you just stay away from the big banks for awhile? > > you know, i think we touched on it last week, given the run-up that we've had, i'm certainly fearful, and i'm buying some out-of-the-money puts on the option side here. from an investment standpoint i would absolutely wait for a pullback on any of these names given the run-up they've had here. goldman maybe about a $125 level, so looking for about a 10% pullback across the board. citigroup even a little bit more. j.p. morgan maybe a little bit less. they had some headwinds from the "whale tale" so to speak. > good to have you on the show. t
taxes for the rich and no fair share who want to live in the privatized environment and not care about the civic situation. that is truly damaging to the possibility of already beleaguered ideals. nothing is simple. i cover the former soviet union and russia. i could go on at great length about how boris yeltsin undermined democracy and became a hero democracy. lech walnsa in many ways was not the. working bloke many made him not to be. gorbachev was a visionary who came to power. he saw he needed to change the country. he used his powers to do that. he withdrew from afghanistan. he called for nuclear abolition. he worked with ronald reagan. he understood you need political solutions, not military solutions. when the soviet troops were ready to come out of the barracks so the berlin wall would not come down, he told them to stay in the barracks, the empire is going. we cannot be a country that will be one of glasnost and perestroika if we live the way we have. it is the 20th anniversary of the soviet union, the end of the soviet union. many people in russia blame him for the economic c
't help them along. they have been squeezed because of a tough environment. there is a big move into tablets and smartphones and all the competition weighs on intel, this type of company. talk about analyst calls. credit suisse cut the target. piper jaffray raised their target just to name a few. but they do have outperforms and neutrals. outperform came from credit suisse. back to you. melissa: nicole, thanks so much. ashley: washington, d.c. prepping for inauguration weekend. if you want a ultimate experience and don't we all, it will cost you a king's ransom. details are ahead. melissa: playing chicken with the energy industry literally. a new fight to shut down oil and wind production to save the prairie chicken. it is a chicken fight. ♪ . melissa: so is the prairie chicken versus the wind farm. the environmental battle heating up as the fish and wildlife service contemplates adding the bird to endangered species list. if that means shutting down vital wind farms and oil and gas facilities is it worth it. i understand the main problem is that these prairie chickens are afr
on a dime and now we're moving into a completely different environment. it's not an environment so different that all of these things are going to happen. and an assault weapons ban is sill a heavy lift. remember, the assault weapons ban we had had a lot of loopholes in it. but the other elements, it's just a different world. and i think national rifle association is no longer supreme in the same way and many of their own members i think are going to start to feel differently. when you get a joe manchin of west virginia coming out and saying "i hunt, i don't need more than three bullets in a magazine" and you get other long-standing strong proponents of the second amendment saying it's time for some changes, we're moving into a different world. >> brown: david kopel, do you think the politics have changed here or do you expect -- well, there certainly will be challenges legislatively. will there also be challenges legally? >> there will certainly be legal challenges because one important thing -- the way things have changechanged is we now have the supreme court having affirmed that the seco
. they're trying to get a new stadium and they want public funding and this in tax environment, they say the only way to really enhance your value is to leverage this kind of victory if they won the super bowl to get a new stadium, and they're right on the cusp of it. they're having that conversation with it. and they're the only team left that haven't won it. and then you have ray lewis, who was, you know, charged with murder 12 years ago. >> right. >> and now he's like the beacon of respect in the nfl. >> it's -- for me it's hard to get past my preconceived notions. i don't think the ravens belong, i hate to say that, where, you know, i think they're going to have a hard time getting past new england. and i also think atlanta's going to have a hard time getting past san francisco, don't you? >> i think the san francisco, in many ways -- >> did you watch that? >> yeah. they are good. it's funny, they say colin kaepernick and rg three are transforming the game of football. at 180 plus yards rushing. how can you do that for ten years? >> and then i think new england's defense trying to st
the feds for smaller buy back to go forward to play it safe in a regulatory environment. sue, back to you. >> thank you very much. matt, covering goldman sachs and j.p. morgan for wells fargo. matt, first of all, let's go to j.p. morgan. how do you rate the stock and do today's rates change the way you feel about the stock? >> thanks, sue. we have an outperform rating on j.p. morgan today and we've had it for some time. we think today's results actually were, once you read through a number of the one-time items, relatively strong. we see a core return on tangible common equity in mid teens. and we think that the strong mortgage performance of the company as well as the relatively strong performance out of investment bank, good revenue performance, and as your previous reporter mentioned, preconference as well and that leads it a solid performance. relative to the peer group for the next six to 12 months. >> so matt, give mae choice between goldman sachs and j.p. morgan. i know they have fundamental differences between them, but if you have to buy one stock today, would it be j.p. morgan o
can shifts in the birds flight paths tell us about our environment? >>> support for quest is provided by the s. d. bechtel, jr. foundation -- the david b. gold foundation -- the dirk and charlene kabcenell foundation -- the vadasz family foundation -- the wyncote foundation -- the amgen foundation --
of the economic environment we've experienced in the last couple of years, exceptional product and a great customer experience, there's opportunity for share gain. we believe if we can see it on our terms in thaur environment, we're still going to win. >> it starts and ends with product. >> mickey really stirred the pot during the korns when he said it's unbelievable that amazon hasn't been mentioned. >> that's good. yeah. i guess jeff basel doesn't show up for these things, but he is one of the big elephants on the block, too. >> most definitely. and we know they're willing to take a loss sometimes just to gain that market share and it does seem to be worrying folks so much so that they're afraid to talk about it. >> were the abercrombie guys there? >> no. >> i want to get that guy there. >> you want to get him on the plane. you have to follow the rules, have to have the right uniform. >> what's the song they sing? >> phil collins. but a lot of other rules, too. >> you're not allowed to wear flip-flops. >> and they can only address them -- >> wear the same cologne, too. >> there has to be
at dollar stores, you hurt these stocks. the low-ends retail environment is more competitive. they have to become more promotional, code word for more discounts. in order to hold their own, they vo have to put real pressure on margins. the higher payroll taxes on consumers, it's very hard to make the case that dollar stores can be owned here. it's true companies have big long-term growth stories, and they have to expand store base around the country. that's not a reason to buy them as long as existing stores have so much trouble. at this point, dollar stores may be too cheap to go much lower, dollar tree sells 14 times earnings, and when their historical multipliers are higher, however, there is no catalyst that can get that multiple to expand. no catalyst to drive this stock higher, and that makes buying them frankly a big no-no. you said to me, jim, give me something in the space. you want something in the space? i say go with cramer fave five below. five for you home gamers. i've been a big fan of this company since it became public in july, and -- philadelphia based and if you got i
, tighter inventory levels number two, and a stable price environment. although the overall economy in the backdrop remains sluggish, we think housing is a bright spot. ashley: one of the critical issues we talk about is the availability of mortgages. do you think we will see a turnaround? we will not go to the mortgage for everyone policy of the olden days, but will we go back to what is considered somewhat normal standard, because they're pretty strict right now. >> that is a great question. it is uncertainty on the political front at washington, d.c., and the status of mortgage reform which is definitely an impediment toward the recovery. but our overall view is that it is so important to get housing back on track and heal the economy that it won't do a thing from a political standpoint to prevent greater accessibility of credit. we are not going back to the good old days, that is something that will not happen. ashley: learned the lesson the hard way. for the home building sector, which stocks do you find particularly attractive right now? >> our best in class are looking for a
and economic story is saying this is not the kind of financial environment that leads to rapid growth. >> interesting. >> okay. >> you tied it in to dell and jpmorgan and everything else. excellent. larry, thank you. >> my pleasure. >> join us tomorrow. "squawk on the street" begins right now. >>> good wednesday morning. welcome to "squawk on the street." i'm melissa lee with carl quintanilla, and jim cramer and david faber at the new york stock exchange. stocks had a pretty nice day yesterday. the s&p closed at five-year highs. we are looking to the down decide this morning. the dow looking to lose about 62 at the open. the picture in europe, a couple of downgrades for gdp forecasts from both the german government and world bank. italy is down by 1.5%. road map this morning starts off with the banks and earnings. jpmorgan higher. goldman sachs at 18-month highs. >> japan airlines grounding their entire dreamliner fleet. >>> dell shares falling this morning after david faber reports that a deal could be announced within two weeks, but at a price of 13.50 or 14 a share, he's got the de
&p are yielding more than the ten-year u.s. treasury, and that type of environment where dividends are going to grow 10% this year, that can be a good backdrop on stocks like ford that developed its dividend last week, lowe's on the home improvement side and dresser injuries and transindustries. >> with all due respect, jpmorgan out yesterday saying that maybe the dividend play is last year's play and maybe now is the time to get into riskier assets in equities because they feel like the economy is going to start to pick up. so you're sticking with the dividend play though? >> i am. for these two reasons. one, bill, the growth of dividends is the story. not the absolute yield. it's the growth in dividends and that can be names like qualcomm, apple, ford is my example. second. when investors look much like 1994 and 1999, when interest rates went higher, the ten-year treasury was yielding, was returning minus 3% for those two calendar years. people will come back to the stock market, but they will come back to the stock market in the safer yield and dividend-growing stories. that is why i thin
rate environment is very tough for them. you want to be cautious going into earnings. sandra: i told everybody you would be naming names. stock your portfolios with what you suggest here. you're calling for three of the 11 regional names to beat expectations. which three? >> well that would be mtb u.s. bank and fifth third and we think they are all in a position because of their mix of earnings, a lot of fee income because of merger in the case of mtb. those are ones where you could see them buck this trend of overall pressure on earnings. we think those are the places to be and they're high quality names. sandra: i want to tell everybody, m & t reporting this week on wednesday, fifth third is reporting on thursday. those are where you're calling for beats. six of them you are predicting of regional banks will miss expectations which six? >> we have a number of them. in fact it will be more than six. it will be across the board. we look at a keycorp and pnc, some of the other names where the net interest margin pressure because of a flat curve, much like wells fargo, even if they mak
are building on the money center banks. i actually feel the environment is still tough, maybe getting more friendlives can i ask you about the rally we've had generally? it's notable that goldman sachs has outperformed both the ac and citi with an 18% rise in the stock over the last month. today, of course, you downgraded goldman sachs in the light of that move. where are you on the sort of share price movement that is we might see in those three and oats moves forward? >> to see additional up side in a broker dealing, you have to see the economy get better. that could happen. i'm hoping it will happened. i'm just not sure if this is the time to put new money into goldman sachs, if we're sure not sure that will play its way out. it's just a matter of, how long does it take for the uncertainty to get out of the way, so companies can get back to making acquisitions. >> jeff, do people give you a hard time when you cut the ratings and yet boost the price targets? that gets made fun of a lot. >> yeah, we do get some for it. the price target increase, it's very form layically driven. what our p
employment opportunity, you've got income growth and environment of very low interest rate is headache to policymaker in which i think the government here continue to have to fine tunemakers every now and then essentially because after they tighten one time, they quiet down the market, but i comes back again because the liquidity flows remain strong. so whether this is the measures toned all measures remains to be seen, i think if the interest rate remains low, we may see further tightening after a period of quiet. i suppose contemplation, i think. >> stick right there. we also want to take a look at what is happening over in india. we're seeing mixed pictures on inflation. headline inflation slowed to its lowest level in three years, in fact. that was up about 7.2% from a year earlier and well shy of expectations. some say the lower than expected wpi fueled the rate cut from india. does this mean 25 basis point rate cuts and more to come? >> well, there's firm pressure from the politicians on the central bankers to do so. the growth is still rather iffy. you've got inflation taking th
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if there is an inflationary environment? >> if one can buy money at a fixed rate, i would certainly urge them to. in my view, interest rates will certainly be going higher over the next decade or two. these interest rates are absurd and will not last. why would i buy land? because agriculture will be one of the most exciting parts of the economy for the next 20 or 30 years. you should learn how to drive a tractor. dagen: i know how to drive a tractor. i probably learned before you did. talk to me about the treasury rates, real quick. when will this come home for us as a nation because, again, congress and our lawmakers are getting a free pass and not doing anything about our long-term financial situation because we can still borrow at such low rates? >> it is because the federal reserve is in their buying bonds. this is an artificial development right now. something that is artificial, it comes home to haunt them eventually. the problem, i am sure -- the problem, dagen, there may be more turmoil coming in the currency markets. you see what is happening with the again right now. it is the wrong thing to do,
environment that we're creating for ourselves and for our families. and this underlying culture of violence that leads to the kinds of tragedies that took place in newtown but also in columbine and aurora, and we can go through the list. we've almost become numb to the ticker telling us that some other community is confronting this kind of tragedy. and i think we have a responsibility as individuals and as citizens to push back on this. if this isn't the kind of culture we want, then we're going to have to say to companies, to our policymakers, this isn't -- you're going to have to stop. >> joe, i'm talking about playing nice, but i don't think that's going to work. >> and you know, the thing is, we have been focusing, of course, some on the gun lobby. >> right. >> but right after newtown, we were also talking about the responsibility of hollywood. >> right. >> and you want to talk about an industry that is completely blind to the -- you know, to their responsibility, bringing violence to culture, who was one of the most celebrated men sunday night at "the golden globes"? quentin tarantino.
returns, what you're telling clients for the next three to five years? >> in this environment, we're actually asking our clients to think about three things. first we're going to have low interest rates for awhile. so they need to adjust their expected returns. so in a low interest rate environment we're going to have lower returns across all asset classes. second, we're telling our clients that as they think about the lower returns in the context of their portfolios, they also need to recognize that we are going to have volatility from incremental policy on a global basis. whether it's in the u.s., europe, japan or emerging market countries. we are expecting that policy, whether it's monetary policy adjustments, fiscal policy, it will all be incremental. and that will create market pressure because it won't be at a pace that the markets would like to see. so that will introduce volatility. and it's not something our clients should try to trace. they should look over the horizon and invest for the long run. >> looking at the long run, three to five-year term outlook if you look at
the question people ask is, can we see anything from the fourth quarter that will tell us what the environment in 2013 is like. i guess my answer to that would still be no. fiscal cliff issues, europe, the election, tropical storms, et cetera, and there's still no real clarity on what the business models, investment banking are going to look like as we head toward three. it's going to be much better numbers than a year ago. numbers are going to be slightly down versus the third quarter. and -- to my mind, there's still really nothing we'll be able to take away from the numbers in terms of -- >> which is frustrating because we're at a time when we are trying to re-evaluate what the model is going to be, what earnings will look like going forward. in your view, what is -- what is the investment case for these investment banks today? >> well, the investment case for an investment bank is that when they work very well, they are extremely capital -- if i advise a company and get a fee for ecm or m&a deal, it requires no capital, and i get a lot of money. that's very attractive. the second thing is
's the agenda. >> one what are the things you think you can do in this environment? by the way, i talked to bankers who say, you know what, i don't know if anyone's going to trust us. first of all i'm not sure anyone did historically trusted banks. >> agreed. >> and that it may never get that much better until, frankly, the economy gets better and the unemployment picture gets better. >> i would sake exception with never. i think there have been times in the past when the banker was your friend. you knew you could go down and get a loan if you needed to buy a house. you didn't worry about whether you could qualify. you worried about, you know, what house you wanted to buy. those are the types we need to get back. to frankly, banking's only one part of the financial services industry. this is a very broad, very wide industry. markets are driven based on people's confidence in their future, their willingness to invest in something they think has a better future than the current times. so earning that confidence. you know, financial advisers in our industry, professionals who work with indi
and certainly in the schools as well i think we can have a much safer community and environment for our kids than we have now. >> marc klaas joining us this morning. marc the father of polly klaas and the founder of the klaas kids foundation. thanks for talking to us. we appreciate your time this morning. >> thank you so much. >> many people pointed out that it appears in the video the little girl goes so easily with her mother, her mother wears a burqa and so maybe she didn't know it was her mother. kids that age will go with an adult. their whole lives are -- their lives -- >> right. >> i picked one of my friend's kids from tae kwon do, and they didn't ask where is mom and dad, where are we going, it's one of the things you have to be so careful that what kind of adults are around and i was amazed that an adult can stroll into a school and out with a child like this. >> children don't ask, okay, because their whole lives are built around, you go to that now, you do this now, i think it's really a terrifying thing that the people didn't say to you, i don't care if he says he knows you, i ne
is going to keep giving or taking. the environment we live in is still conducive to be la tij jous because no one can make any money. carl, back to you. >> rick, we'll talk to you in a bit. rick santelli. >>> goldman is making waves with its bonus payouts. mary thompson has a flash. >> the company confirming that goldman has decided not to delay the bonus payments until april which would have allowed the bonuses to be taxed at a lower rate. goldman sachs' stock is slightly higher, about three-quarters of a percent. those payments originally due here in the u.s. in 2013 but the company, again, accelerated those payments into 2012 to take advantage of lower tax rates. again, the uk says -- someone close to the company saying that after some consideration, it will not be delaying bonus payments there to take advantage of lower rates. back to you. >> yeah, not the only bank where compensation is in the news. thank you, mary. >>> a few minutes left in europe's trading days. simon hobbs in less than 60 seconds. and i jumped right on it. tdd# 1-800-345-2550 tdd# 1-800-345-2550 since i've switched
Search Results 0 to 25 of about 26 (some duplicates have been removed)